Guideline Value for Erikarai 7th Street

Erikarai 7th Street guideline value

The current guideline value of Erikarai 7th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village under the Tambaram Joint 1 SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Erikarai 7th Street has changed

Over the years, the guideline value for Erikarai 7th Street has seen significant changes. The 2007 revision set the value at Rs 300 per sq.ft, which then increased to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 400%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 1,650 per sq.ft, an increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the increase amounts to 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kadaperi

In Kadaperi village, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Erikarai 7th Street.

• Erikarai 6th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 5th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 4th Street: Rs 1,650 per sq.ft (2024)
• Erikarai Rangam Street: Rs 1,650 per sq.ft (2024)
• Erikarai 3rd Street: Rs 1,650 per sq.ft (2024)
• Erikarai 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Erikarai 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erikarai 7th Street?

The Sub Registrar Office that covers Erikarai 7th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kadaperi

The guideline value is a crucial factor in the registration process when buying or selling property in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in assessing the value of the property for taxation purposes. Buyers and sellers must consider this value as it directly impacts the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Erikarai 7th Street?

The current guideline value of Erikarai 7th Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the stamp duty for property in Erikarai 7th Street?

The stamp duty for property in Erikarai 7th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Erikarai 7th Street?

The Sub Registrar Office for Erikarai 7th Street is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the land classification for Erikarai 7th Street?

Erikarai 7th Street is classified as Residential Class I Type - II.